Funding round
Sinch Growth
Reported as "Growth Equity"
Sinch, which works in cloud communications platform development in Stockholm, raised $1.10B in a Growth round announced on 24 May 2021, led by SoftBank Group Corp.. 8 firms took part, 8 of them already investors. It is Sinch's third venture round on record; the one before was a Growth in Nov 2020.
$1.10B
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Sinch did not disclose a valuation in this round. It came 6 months after Sinch's Growth. It is 67% of the $1.64B Sinch has raised in the venture rounds on record. No later venture round is on record for Sinch.
Sinch's funding rounds
Sinch has 3 venture rounds on record and 3 other deals. This one is highlighted.
Investors
Who put money in
SoftBank Group Corp. led the round with 7 other firms. Temasek, SoftBank Group Corp., SB Northstar LP and DNB Carnegie and 4 more had backed Sinch before.
Lead investor
- SoftBank Group Corp. existing investor
Also in the round
- Temasek backs 195 venture-backed companies existing investor
- SB Northstar LP existing investor
- backs 2 venture-backed companies existing investor
- Danske Bank existing investor
- Handelsbanken Capital Markets existing investor
- JP Morgan existing investor
- SEB existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
5 Growth rounds in Telecommunications within a year either side disclosed an amount; the median was $111M, and this round was 9.9 times the median. The closest in time, other companies' Growth rounds in Telecommunications:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Telecommunications | 10 Aug 2021 | $111M | not disclosed | Andreessen Horowitz |
| Telecommunications | 2 Feb 2021 | $60M | not disclosed | Fortress Investment Group |
| Telecommunications | 15 Jan 2021 | $400M | not disclosed | SoftBank Group |
| Telecommunications | 20 Oct 2020 | $30M | not disclosed | Prime Movers Lab |
| Telecommunications | 23 Mar 2022 | $170M | $1.00B | Axon Capital and Khosla Ventures |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Sinch raise in its Growth round?
Sinch raised $1.10B in its Growth round, announced in May 2021.
Who led Sinch's Growth round?
SoftBank Group Corp. led it, with Temasek, SB Northstar LP, DNB Carnegie, Danske Bank and Handelsbanken Capital Markets and 2 more.
What was Sinch's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Telecommunications?
5 Growth rounds in Telecommunications within a year either side disclosed an amount; the median was $111M, and this round was 9.9 times the median.